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Hochschild Mining PLC - gold and silver miner in Peru, Argentina and Brazil - Expects to increase production and lower costs from 2024, setting a 2024 production target of 343,000-360,000 gold equivalent ounces. Sets 2024 all-in sustaining costs target of $1,510-$1,550 per gold equivalent ounce, including $45 million of 2022/23 deferred capital expenditure. Expects production to rise to 340,000-375,000 gold equivalent ounces in 2025.
Chief Executive Officer Eduardo Landin comments: ‘With our Inmaculada mine providing a solid and sustainable base for the long-term, we are excited by the prospect of first production in the next few months from our new Mara Rosa mine in Brazil and also by the potential at the new Royropata deposit in southern Peru. I believe that, when set alongside a disciplined approach to capital allocation and our [environmental, social and governance] focus, the clear strategy set out today will deliver strong shareholder returns in the near future.’
Current stock price: 108.40 pence, up 0.7%
12-month change: up 62%
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